Private equity firm Sun Capital Securities Group urged the board of Kellwood Co. on Thursday to immediately terminate the $1.6 billion apparel firm's debt tender offer. The board refused the request.
Kellwood on Wednesday issued a tender offer to buy back from bondholders as much as $60 million of 7.875 percent notes due next year. Holders who tender before 5 p.m. on Jan. 23 will receive the total consideration of $1,035 per $1,000 in principal of the notes tendered. Holders who tender after that, but by midnight of Feb. 6, will not receive the early tender premium and instead will get $1,005 for every $1,000 in principal. The move followed an $80 million stock repurchase last week.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"